Godrej Properties acquires 18-acre land parcel in Kandivali, Mumbai

Mumbai, December 2, 2022: Godrej Properties Ltd., one of India’s leading real estate developers, on Friday announced that it has, on an outright basis, acquired an ~18.6-acre land parcel in Kandivali, Mumbai. A press release issued by the company says that, the project will have a developable potential of approximately 3.72 million square feet with an estimated revenue potential of approximately Rs 7,000 crores.

The development will comprise primarily of premium residential apartments with supporting retail spaces. 

Mohit Malhotra, MD & CEO, Godrej Properties, said, “We are pleased to announce the addition of this large and strategically important project in Mumbai. This project will allow us to significantly increase our market share in Mumbai over the next several years and fits within our strategy of deepening our presence across key real estate micro markets. We will aim to build an outstanding residential community that creates long term value for its residents.”